Summer is around the corner, which usually means peak home improvement season. We understand that creating the right budget to fix all of your home repairs and improvements can be tough. Here are a few tips to help you along the way.

Once you figure out your budget, give Roof One a call! We'd be happy to offer your our contracting services.

How Can I Afford Home Improvement And Repair? - Articles - Networx Is there a contractor in your future? After a long hard winter, you might very well need a few fenceposts replaced -- or a whole new roof. Or perhaps you'd like to celebrate spring by installing your dream kitchen or patio. Not to be a Debby Downer, but all those things cost money. Before you pick up the phone to hire a roofer, remodeler, or concrete specialist, take a good hard look at how you can afford the home repair or improvement you're considering.

THINK, THINK, THINKMake a list of all the repairs and home improvement projects that you are daydreaming about. Then bring those dreams down to earth by carefully considering each task:

Prioritize your spending; allocate funds first to crucial home repairs or renovation projects that offer an excellent return on investment, such as attic insulation (107.7% ROI) or entry door replacement (90.7% for a new steel door).

DO YOUR HOMEWORKThe internet makes it fast and easy to research your pet projects. Compare price, appearance, and durability of various materials – for example, hardwood flooring versus laminate. Check out ways to save without sacrificing quality … perhaps by buying tiles in last year’s style (just be sure to purchase a few extra to allow for breakage and future repairs). Find out the going rate for home improvement contractors in your area. In addition to materials and labor, allow sufficient funds for hidden costs. To illustrate: during a major home remodel, you might have to find temporary accommodation and furniture storage for a while.

LOOK FOR FREE MONEYIn the case of a repair, start by checking with your insurance provider to see whether your homeowners policy will cover the job. Investigate federal, state, and municipal grants, community development programs, or assistance from nonprofit organizations for essential home repairs and/or improvements. Search for rebates, tax credits, and incentives offered by government agencies or utility companies on environmentally friendly upgrades, such as the installation of high-efficiency HVAC equipment.

DIY OR NOT?Do-it-yourself might seem like an easy, affordable solution and there are lots of instructional videos that show how to perform simple repairs -- like fixing a dripping faucet. It’s important to be realistic, though. Do you have the time and patience (not to mention the practical skills and equipment) to do a topnotch job? Make sure to pull all necessary permits and work to code. Negligence in this area may lead to more financial trouble down the road, when you try making insurance claims or selling your house.

USE CREDIT CARDS -- WISELYAre you surprised at the idea of financing home improvement with plastic? It actually makes more sense than you might think for projects under $15,000. Your card can provide quick funding up to your credit limit, without the paperwork of a bank loan – very useful when you suddenly need to repair a roof leak or spruce up before an open house. The debt is unsecured so you don’t risk losing your house if you get behind in the payments. You’ll also earn yourself a bundle of rewards points. Best-case scenario: take advantage of low- or no-interest credit card promotions and be sure to pay off your balance in full before the offer expires. Otherwise, you will be facing hefty interest charges, to the tune of 15 percent or higher.

TAKE A PERSONAL LOANFor improvements or repairs costing between $15,000 and $50,000, a personal loan might be the way to go. The application process is streamlined and this type of unsecured loan does not require you to put up your home as collateral. Interest rates are fairly high, though, starting at approximately 7 percent APR or more, depending on your credit rating, geographical location, loan amount, and term.

TAP YOUR HOME EQUITYOn the other hand, to finance $15,000-50,000 worth of work on your house, your best bet could be a home equity line of credit (aka “a second mortgage”), especially if your credit rating is not so hot. A HELOC offers lower interest rates than an unsecured personal loan – about 4 percent with an excellent credit rating -- and is convenient to use for multiple small home improvement expenses, but you are literally betting the farm (or your home) that you will be able to make the payments on time every month.

COVER HOME AND IMPROVEMENTS WITH A 203KAre you considering buying a fixer-upper -- or does your current home need some fundamental repairs? An FHA 203K loan could be the right type of financing for you. It is basically a mortgage (new or refinanced) that covers both the house purchase price and the planned improvements. Interest charges on this type of loan may amount to as much as 1 percent more than conventional mortgage financing, but it offers 2 major advantages: a 203K allows you to borrow a substantial amount and pay it off over an extended period.